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Trump predicts gasoline prices will drop below $2

9/10/2026

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Summary

Story summary

President Donald Trump said fuel prices will drop below $2 per gallon after the November 2026 midterms.
He said the war with Iran will end after the election because Iran cannot hold out longer.
National average gasoline prices stayed above $4 per gallon during his remarks.
Analyst Patrick De Haan said he sees no guarantees prices will drop after the midterms.

History

Historical Context

During the 1973 Arab oil embargo, OAPEC’s actions forced U.S. gasoline prices to jump 43%—from 38.5¢ in May 1973 to 55.1¢ a year later—while Nixon imposed price controls and rationing. The shock reshaped American energy policy and fuel-price expectations. Today, Donald Trump’s pledge to push prices below $2 per gallon after the November 2026 midterms echoes that historic volatility.

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Story summary

President Donald Trump said fuel prices will drop below $2 per gallon after the November 2026 midterms.
He said the war with Iran will end after the election because Iran cannot hold out longer.
National average gasoline prices stayed above $4 per gallon during his remarks.
Analyst Patrick De Haan said he sees no guarantees prices will drop after the midterms.

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